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After operating for five years, the books of the partnership of Lopez and Mendez showed the following balances: Net Assets 130,000 85,000 Lopez, Capital Mendez, Capital 45,000 If liquidation takes place at this point and the net assets are realized at book value, the partners are entitled to: Lopez to receive P97,500 and Mendez to receive P32,500 Lopez to receive P90,000 and Mendez to receive P40,000 Lopez to receive P85,000 and Mendez to receive P45,000 а. b. C.

After operating for five years, the books of the partnership of Lopez and Mendez showed the following balances: Net Assets 130,000 85,000 Lopez, Capital Mendez, Capital 45,000 If liquidation takes place at this point and the net assets are realized at book value, the partners are entitled to: Lopez to receive P97,500 and Mendez to receive P32,500 Lopez to receive P90,000 and Mendez to receive P40,000 Lopez to receive P85,000 and Mendez to receive P45,000 а. b. C.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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15. After operating for five years, the books of the partnership of Lopez and Mendez showed the following balances: 130,000 Net Assets Lopez, Capital Mendez, Capital 85,000 45,000 If liquidation takes place at this point and the net assets are realized at book value, the partners are entitled to: Lopez to receive P97,500 and Mendez to receive P32,500 Lopez to receive P90,000 and Mendez to receive P40,000 Lopez to receive P85,000 and Mendez to receive P45,000 а. b. C.
Transcribed Image Text:15. After operating for five years, the books of the partnership of Lopez and Mendez showed the following balances: 130,000 Net Assets Lopez, Capital Mendez, Capital 85,000 45,000 If liquidation takes place at this point and the net assets are realized at book value, the partners are entitled to: Lopez to receive P97,500 and Mendez to receive P32,500 Lopez to receive P90,000 and Mendez to receive P40,000 Lopez to receive P85,000 and Mendez to receive P45,000 а. b. C.
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